Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

With the S&amp;P 500 breaking above the June highs and the Russell 2000 bullishly inflecting topside a ~1-month base, it signals a continuation of the uptrends that began in March... see charts below. Therefore, we continue to have a bullish outlook and we believe the path of least resistance remains higher. In today’s report we highlight attractive Groups and stocks within Health Care and Materials: Biotech, Large-Cap, Biotech, Mid-Cap, Gold, Western Hemisphere, Small-Cap, and Silver, Platinum.

With the S&amp;P 500 breaking above the June highs and the Russell 2000 bullishly inflecting topside a ~1-month base, it signals a continuation of the uptrends that began in March... see charts below. Therefore, we continue to have a bullish outlook and we believe the path of least resistance remains higher. In today’s report we highlight attractive Groups and stocks within Health Care and Materials: Biotech, Large-Cap, Biotech, Mid-Cap, Gold, Western Hemisphere, Small-Cap, and Silver, Platinum.

U.S. Equity Strategy: Bullish Outlook Intact

Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.

Now that the initial/primary low has been established and with the S&amp;P 500 roughly 20% off the lows, we believe it is time to map out potential areas where this rally could run into resistance. After this type of major waterfall decline there is often a test of the initial low - and there is often an undercut of the initial low. Barring approval of a first-line therapy for COVID-19 (chloroquine/hydroxychloroquine?) we are of the belief that a test of this initial low (likely 2-12 weeks out) and potentially an undercut of roughly 10% are likely.

S&amp;P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance in 2015-2016 at 2,130-2,200. The 2,346 level would make a lot of sense, however there is nothing that says we can’t be down 35% (coinciding with the 2,130-2,200 level) or more from the highs. Ultimately, COVID-19 is holding the market hostage and it likely will stay that way until the virus spread diminishes.

S&amp;P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance in 2015-2016 at 2,130-2,200. The 2,346 level would make a lot of sense, however there is nothing that says we can’t be down 35% (coinciding with the 2,130-2,200 level) or more from the highs. Ultimately, COVID-19 is holding the market hostage and it likely will stay that way until the virus spread diminishes.

S&P 500 Technical Appraisal and Support Levels

Nasdaq-100 Stock Index / Technical Analysis

In today’s report we outline  our belief that the combination of extreme oversold conditions and several key sectors/industries holding above major long-term support lead us to believe an important bottom has been established. We also highlight attractive Groups and stocks within Staples, Financials, and Health Care: Large- &amp; Small-Cap Soft Drinks &amp; Bottlers, Electronic Exchanges/Markets, and Large- and Mid-Cap Biotech.

In today’s report we outline  our belief that the combination of extreme oversold conditions and several key sectors/industries holding above major long-term support lead us to believe an important bottom has been established. We also highlight attractive Groups and stocks within Staples, Financials, and Health Care: Large- &amp; Small-Cap Soft Drinks &amp; Bottlers, Electronic Exchanges/Markets, and Large- and Mid-Cap Biotech.

A Bottom Has Been Established; Possible Retest?

In today’s report we reiterate our bullish U.S. investment thesis, recap significant technical levels across indexes, and highlight attractive Groups and stocks within Health Care and Technology: Biotech, Mid-Cap, Biotech, Small-Cap, Semiconductors, Large-Cap, and Semiconductors, Mid-Cap..

In today’s report we reiterate our bullish U.S. investment thesis, recap significant technical levels across indexes, and highlight attractive Groups and stocks within Health Care and Technology: Biotech, Mid-Cap, Biotech, Small-Cap, Semiconductors, Large-Cap, and Semiconductors, Mid-Cap..

MSCI ACWI, STOXX 600 Breaking Out, Adding Fuel for Further U.S. Equity Market Rally

United States

Seagen Inc. operates as a biotechnology company. The Company discovers and develops monoclonal antibody-based drugs to treat cancer and related diseases, as well as offers antibody-drug conjugate technology designed to deliver cell-killing agents directly to tumor cells. Seagen serves customers worldwide.

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Seagen (SGEN US)

U.S. Equity Strategy: Bullish Outlook Intact

With the S&P 500 breaking above the June highs and the Russell 2000 bullishly inflecting topside a ~1-month base, it signals a continuation of...

Vermilion Research

U.S. Equities: Test Of The Lows Coming?

Now that the initial/primary low has been established and with the S&P 500 roughly 20% off the lows, we believe it is time to map out potential...

Vermilion Research

S&P 500 Technical Appraisal and Support Levels

S&P 500 Potential Support Levels. Current logical support levels we are monitoring include the December 2018 low of 2,346 and prior resistance...

Vermilion Research

A Bottom Has Been Established; Possible Retest?

In today’s report we outline our belief that the combination of extreme oversold conditions and several key sectors/industries holding above major...

Vermilion Research

MSCI ACWI, STOXX 600 Breaking Out, Adding Fuel for Further U.S. Equity Market Rally

In today’s report we reiterate our bullish U.S. investment thesis, recap significant technical levels across indexes, and highlight attractive...

Vermilion Research

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